China-based global biopharmaceutical company Harbour BioMed (HKEX: 02142) announced on Sunday a global strategic collaboration with Japan's Otsuka Pharmaceutical Co Ltd to advance BCMAxCD3 bispecific T-cell engagers for the treatment of autoimmune diseases.

Under the terms of the agreement, Otsuka has been granted an exclusive licence to develop, manufacture and commercialise HBM7020, a BCMAxCD3 bispecific T-cell engager globally, excluding Greater China (Mainland China, Hong Kong, Macau and Taiwan). In return, Harbour BioMed will receive a total of USD47m in upfront and near-term payments. The company is also eligible for additional payments of up to USD623m upon the achievement of specified development and commercial milestones, as well as tiered royalties on future net sales.

HBM7020 is a BCMAxCD3 bispecific antibody generated using Harbour BioMed's fully human HBICE bispecific technology and Harbour Mice platform. It is designed to crosslink target cells and T cells by binding to BCMA and CD3 on the cell surface, leading to potent T cell activation and targeted cell elimination. Harbour says that by incorporating dual anti-BCMA binding sites for enhanced cell targeting and monovalent-optimised CD3 activity to minimise cytokine release syndrome (CRS), HBM7020 has demonstrated potent cytotoxicity with broad therapeutic potential in both immunological and oncological diseases. In August 2023, HBM7020 obtained IND clearance from the National Medical Products Administration (NMPA) to commence a Phase I trial for cancer in China.

"We are delighted to collaborate with Otsuka, a global healthcare leader renowned for its innovative approach to addressing unmet medical needs," said Dr Jingsong Wang, Harbour BioMed founder, chairman, and CEO. "This collaboration underscores the strength of Harbour BioMed's proprietary Harbour Mice and HBICE technology platforms, which enable the rapid development of fully human bispecific antibodies with optimised safety and efficacy profiles. By leveraging our unique capabilities, we are well-positioned to advance next-generation biotherapeutics that can make a meaningful difference in patients' lives worldwide."